To accomplish the purpose and intent of this article, the
water development authority is hereby empowered, in addition to all
other powers granted to it under this code, upon approval of the
council, to (1) enter into agreements or other transactions with
any federal or state agency in connection with any infrastructure
project or project; (2) receive or administer on behalf of any
federal or state agency grants, subsidies or other payments to be
applied to the costs of any infrastructure project or project
financed, in whole or in part, or otherwise assisted by the water
development authority, including, but not limited to, payments to
be applied to operating costs and debt service or obligations of
any project sponsor; (3) receive and accept aid or contributions
from any source of money, property, labor or other things of value,
to be held, used and applied only for the purposes for which such
grants and contributions are made; (4) establish and amend the
criteria and qualifications for making loans, loan guarantees or
grants, or providing any other assistance, for any infrastructure
project or project, and the terms of any loans, loan guarantee,
grant or assistance agreement for any project; and (5) do all
things which are necessary to further the purposes and intent of
this article.